Impel Brings Fluent’s Federated US+ Stablecoin To XDC

Dallas, Texas, Oct. 06, 2022 (GLOBE NEWSWIRE) — Fluent Finance, the blockchain and fintech development firm behind the regulator-forward US+ stablecoin has entered into a formal partnership with Impel to bring the US+ stablecoin to the XDC Network. Additionally, Fluent has already entered into numerous partnerships with US-based banks to integrate US+ into their core-banking systems that will be connected to the XDC Network. Through Fluent’s finance partners, US+ will provide robust and reliable liquidity on the XDC Network. 

Fluent created a federation of banks that will mint and redeem US+ onto and off of the XDC Network. US+ includes real-time audits, smart contracts, and maintains a 1:1 ratio with the U.S. Dollar through provably sufficient bank reserves. It is backed by fiat deposited with these vetted federated banking partners, removing the counter-party risk barrier that contributed to the stalled approval of stablecoins in the traditional banking system. The successful integration of Fluent’s US+ protocol into core-banking systems will allow banks to benefit from the US+ stablecoin in a low risk and regulated setting.

Designed for enterprise-grade financial services, the XDC Network is a natural strategic partner for Fluent in addition to their traditional finance partners. Impel and Fluent’s partnership will provide a robust and solid ecosystem, as they are better together, creating and offering remarkable value. US+ will complement both Impel’s ISO 20022 financial messaging API that offers optional instant settlement capability, as well as its R3 Corda | XDC Network Bridge. 

Bradley Allgood, the CEO of Fluent said, “The XDC Network ticks the boxes for a Layer 1 partner that can help us expand US+, but more importantly, bring stablecoin benefits into new ways of conducting business, such as international trade and finance, where cross-border payments and instant settlement are game-changers.”

As a…